Is the designated accounting software for Cool Binz subject to change?

According to Cool Binz's 2025 Franchise Disclosure Document, the accounting software franchisees are required to use is subject to change. Currently, Cool Binz requires franchisees to use QuickBooks Online. However, Cool Binz retains the right to change the designated accounting software at their discretion. Franchisees are also required to adhere to Cool Binz's specified chart of accounts, which Cool Binz can also change.

This means that a prospective Cool Binz franchisee should be prepared to adapt to changes in the required accounting software. While the initial investment may be based on using QuickBooks Online, Cool Binz can mandate a switch to a different software, potentially incurring additional costs for the new software, training, and data migration.

Cool Binz also has broad authority over the franchisee's computer systems. Cool Binz can specify the brands, types, makes, and models of communication and computer systems that franchisees must use. This includes hardware and internet access. The estimated cost of the computer system is between $3,000 and $5,000. Franchisees are responsible for maintaining and updating these systems as required by Cool Binz, and there is no limit on the frequency or cost of these required updates.